Demand for euros takes Oxea by surprise

Bankers working on the new loan for Oxea, the German chemicals company, have been overwhelmed by the strong demand from European investors for the new debt, leading them to increased the size of the euro-denominated tranche.

06 Jun 2013

It expects to allocate the €1.1bn-equivalent cov-lite loan this afternoon.

“Originally the borrower kept the euro tranche relatively small, being uncertain that European investors would agree to more,” said a banker familiar with the deal. “But eventually they managed to increase the tranche by a significant amount. We
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